Headinvest LLC Increases Position in Occidental Petroleum Corporation (OXY)

Headinvest LLC lifted its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 9.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,798 shares of the oil and gas producer’s stock after buying an additional 3,174 shares during the period. Headinvest LLC’s holdings in Occidental Petroleum were worth $2,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Glassman Wealth Services increased its stake in Occidental Petroleum by 0.3% in the 2nd quarter. Glassman Wealth Services now owns 2,474 shares of the oil and gas producer’s stock worth $148,000 after purchasing an additional 8 shares during the period. Good Life Advisors LLC increased its stake in Occidental Petroleum by 0.8% in the 2nd quarter. Good Life Advisors LLC now owns 7,401 shares of the oil and gas producer’s stock worth $436,000 after purchasing an additional 58 shares during the period. Savant Capital LLC increased its stake in Occidental Petroleum by 1.5% in the 2nd quarter. Savant Capital LLC now owns 5,154 shares of the oil and gas producer’s stock worth $309,000 after purchasing an additional 77 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Occidental Petroleum by 0.4% during the second quarter. Daiwa Securities Group Inc. now owns 24,450 shares of the oil and gas producer’s stock valued at $1,464,000 after buying an additional 100 shares during the period. Finally, Rockland Trust Co. increased its stake in shares of Occidental Petroleum by 3.0% during the second quarter. Rockland Trust Co. now owns 4,374 shares of the oil and gas producer’s stock valued at $262,000 after buying an additional 126 shares during the period. 80.34% of the stock is currently owned by institutional investors.

Occidental Petroleum Corporation (NYSE:OXY) traded down $0.18 during midday trading on Tuesday, hitting $70.06. The company had a trading volume of 3,678,100 shares, compared to its average volume of 4,519,645. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $73.51. The company has a market capitalization of $53,610.00, a price-to-earnings ratio of 200.69, a PEG ratio of 14.25 and a beta of 0.65.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the company posted ($0.15) earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. research analysts predict that Occidental Petroleum Corporation will post 0.76 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum’s dividend payout ratio (DPR) is 433.80%.

Several equities analysts have recently issued reports on OXY shares. Zacks Investment Research raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Scotiabank reissued a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. BMO Capital Markets set a $60.00 target price on Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, October 10th. Jefferies Group reissued a “hold” rating and set a $58.00 target price on shares of Occidental Petroleum in a research note on Friday, October 6th. Finally, BidaskClub cut Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $67.27.

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Occidental Petroleum Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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